President Ferdinand R. Marcos Jr. (PNA photo by Joan Bondoc)
MANILA – The government is looking into the possibility of introducing economic reforms to attract more foreign investments, President Ferdinand R. Marcos Jr. said on Friday.
Marcos made the statement in a media interview in Muntinlupa City, when asked to react to the House of Representatives’ plan to push for amendments to the 1987 Constitution to ease economic restrictions.
“We’re just beginning to study because we keep talking about economic provisions that are getting in the way with some of the potential investors that we’re going to bring to the Philippines,” he said.
“So, what we are looking at here is the opportunity cost of those who would like to invest here but somehow, the laws that derived from the Constitution when it comes to the economic provisions do not allow them to or make it non-viable for them,” Marcos added.
The President, however, clarified that the study is not limited to the possible constitutional amendments.
He said the government is also considering other ways to make the Philippines an “investment-friendly” nation.
“The study is really not about the Constitution. It’s about what we need to change so that these potential investors will in fact come to the Philippines,” Marcos said.
“So, let’s study to see if it requires that or if we can do it any other way. But in my interest, my primary interest is to try and make our country an investment-friendly place.”
In an economic briefing in Iloilo City on Monday, House Speaker Martin Romualdez said the House of Representatives will make another pitch to amend the 1987 Constitution next year, focusing on its economic provisions.
The House of Representatives in March passed a bill seeking amendments to the 1987 Constitution through a constitutional convention.
A similar measure in the Senate only reached the committee level. (PNA)
